Business leaders say three of the five worst risks facing their businesses today are climate-related, according to the World Economic Forum’s 2019 Global Risks Report. And in another sign of how important climate issues are becoming to businesses, the UK government has said it may oblige market-listed firms and pension funds to disclose climate change-related risks starting in 2022.
Clearly, Sustainability Risk Management is a key priority also to Prysmian Group, which began identifying these specific risks and integrating them into its Enterprise Risk Model beginning in 2015.
Prysmian Group’s Chief Risk Officer Alessandro De Felice oversees all of the strategic, financial, operational, legal, and planning risks that can impact the company’s performance, including sustainability risks in those categories. He works closely with the Group’s Health Safety and Environment (HSE) function to identify and monitor potential sustainability risks and come up with ways to deal with them and constantly report it to the Risk Control Committee established within the Company Board of Directors.